Tag Archives: green energy

Clearly taxpayers are being robbed, clearly once Barack Obama is out the amount of investigations needed to find out exactly how much money was stolen and given to buddies is going to take decades. The amount of corruptness within this administration makes the Nixon admin, who was forced to resign look like a great admin. But this admin knows if Obama was impeached, the calls of racism, and the violent liberal unions who are already rioting in the streets with Occupy protesters would turn this country in to a battlefield. Obama knows this. So he continues to rob America.

Shortly after Obama’s election, he left his California firm to join the Energy Department, just as the administration embarked on a massive program to stimulate the economy with federal investments in clean-technology firms.

Following an enduring Washington tradition, Wagle shifted from the private sector, where his firm hoped to profit from federal investments, to an insider’s seat in the administration’s $80 billion clean-energy investment program.

He was one of several players in venture capital, which was providing financial backing to start-up clean-tech companies, who moved into the Energy Department at a time when the agency was seeking outside expertise in the field. At the same time, their industry had a huge stake in decisions about which companies would receive government loans, grants and support.

During the next three years, the department provided $2.4 billion in public funding to clean-energy companies in which Wagle’s former firm, Vantage Point Venture Partners, had invested, a Washington Post analysis found. Overall, the Post found that $3.9 billion in federal grants and financing flowed to 21 companies backed by firms with connections to five Obama administration staffers and advisers.

Obama’s program to invest federal funds in start-up companies — and the failure of some of those companies — is becoming a rallying cry for opponents in the presidential race. Mitt Romney has promised to focus on Obama’s “record” as a “venture capitalist.” And in ads and speeches, conservative groups and the Republican candidates are zeroing in on the administration’s decision to extend $535 million to the now-shuttered solar firm Solyndra and billions of dollars more to clean-tech start-ups backed by the president’s political allies.

So now they are just destroying the stuff taxpayers flipped the bill for and lost hundreds of billions of dollars on? These green companies should be ashamed of themselves, they’re collapsing one after another and destroying the work that should be turned over to taxpayers.

(Bloomberg) The Obama administration knew before the 2010 election that Solyndra LLC, a solar-panel maker that received a $535 million U.S. loan guarantee, planned to fire workers, according to e-mails released today.

The messages don’t indicate that anyone from the White House directed Solyndra to delay announcing the layoffs until after the vote. Previously released e-mails, indicating the Energy Department urged Solyndra to postpone the cuts, have been cited by House Republicans who say politics influenced Solyndra’s award and last-ditch rescue bid that put taxpayers behind $75 million in private investment.

“Here’s the deal — Solyndra is going to announce they are laying off 200 of their 1200 workers,”Heather Zichal, a White House adviser, wrote to Carol Browner, then director of the office of Energy and Climate Change Policy, and other officials on Oct. 27, 2010. “No es bueno.”

The White House released the e-mails to the Republicans on the House Energy and Commerce Committee’s investigations panel, which has been investigating Solyndra’s loan guarantee since February.

Kathryn Ruemmler, counsel to President Barack Obama, said in a letter to Representatives Fred Upton, a Michigan Republican and chairman of the energy committee, and Cliff Stearns, a Florida Republican who heads the investigations panel, that congressional investigators have now received more than 186,000 pages of documents from the administration and 72,000 pages from Solyndra investors.